Double empty clip hits steel price in July

by chief
July overview Sinosteel’s product price reduction

Affected by the sharp drop in international steel prices and the disruption of low-priced imported goods from the mainland and Russia, Sinosteel’s domestic sales prices for July, which were announced on the 20th, have comprehensively lowered the prices of nine specifications of products, by 600 to 1,500 yuan per metric ton. It was higher than expected, and the quarterly products such as bar wire and steel plate did not open and flat as originally expected, and remained flat overall. The average decline in the third quarter was 2.23%, the largest decline in a single quarter in the past two and a half years.

In the face of imported goods with abnormal quotations and disrupting the domestic market order, Sinosteel emphasized that it will file an anti-dumping complaint based on the actual degree of industrial damage to maintain a fair and legitimate trade order.

Weng Chaodong: Fighting for the Q4 peak season

Regarding this new price, Weng Chaodong, chairman of Sinosteel, said that it is mainly to assist downstream customers to take orders. Among them, in the monthly market, in addition to assisting the downstream to stably receive orders, it is also hoped that the downstream will actively prepare materials, stabilize confidence, and hope that the market will The market bottomed out and stabilized as soon as possible, striving for the arrival of the peak season of the fourth quarter.

Weng Chaodong believes that after the mainland is gradually unblocked from June to July, it is expected that demand will slowly increase in August. As for the quarterly trading part, the overall price remained flat, mainly considering the price increase in the second quarter. The market situation is relatively stable now. In order to help downstream customers to “stabilize the price and secure the warehouse” to facilitate receiving orders, it was finally decided to maintain both steel plates and rods. Flat plate.

There is no moderate price increase for the steel plate products in the quarter, Huang Jianzhi, executive vice president of Sinosteel, said that the overall market conditions, including steel structures, turnbuckles, automobiles and locomotives, home appliances and barrels, are relatively stable, although the demand for steel structures and other parts is not yet. Poor, but considering that machinery, machine tools and other related industries are now more difficult to receive orders, after comprehensive consideration, it is decided that the quarterly market is flat.

Sinosteel pointed out that considering the current severe global inflation situation, repeated epidemics, the unsolvable war between Russia and Ukraine, and supply chain bottlenecks and other uncertain factors, this time the price is still based on the consistent principle of “follow the trend and appropriateness”. Products, considering the rapid revision of international bulk hot and cold rolled prices in the past two months and the disruption of low-priced imports from mainland China, South Korea, India, and Russia, the rapid shrinking of customer export orders, and the upside-down domestic circulation market, and other unfavorable factors, The monthly price decided to moderately lower the price.

It is also understood that in recent days, the international steel market has also shown a plummeting situation. Among them, the hot-rolled circulation market in mainland Shanghai, Guangzhou and other places has continued to fall on the 20th after falling below RMB 5,000 per metric ton last week. To 4,400 yuan, Guangzhou fell to 4,320 yuan, a decrease of 4.34% to 5.61%, and the hot-rolled second and third grade steel sold in Vietnam fell below the $800 mark, and there were even products quoted below $800.

Regarding the price of Sinosteel in July, some downstream manufacturers believe that the decline is not enough, but some manufacturers believe that the decline of Sinosteel’s hot rolling is still more than expected.

Business Times|Lin Xianxiang, Kaohsiung|Double empty clip hits steel price in July

Full Article 雙空夾擊 中鋼7月盤價重摔

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